Log9 Mobility partners cKers Finance to accelerate EV adoption under MaaS
1 min read . Updated: 09 May 2022, 10:31 PM IST
Premium- cKers has provided an initial facility of ₹100 million to Log9 Mobility
cKers Finance, an NBFC focused on financing sustainability and clean energy in India has provided a debt financing facility to Log9 Mobility, a wholly-owned subsidiary of Log9 Materials Scientific Private Limited (Log9). Log9 is developing advanced cell chemistries which can be used in battery storage technologies across mobility and stationary storage solutions.
cKers has provided an initial facility of ₹100 million to Log9 Mobility which is being used to accelerate the deployment of Electric vehicles (EVs) integrated with Log9’s fast charging InstaCharge batteries under a MaaS (Mobility as a Service) model.
These batteries are optimised for Indian conditions and offer 9x power, 9x cycle life and 9x performance – being charged from 0-100% in 12 minutes for a 2-wheeler and 35 minutes for a 3-wheeler respectively.
With India scaling up its ambitions for EV adoption, last-mile freight is seen as one of the key entry points. Leading e-commerce platforms, hyperlocal players and consumer product companies are listening to their customers and investors and are working to reduce their carbon footprint by electrifying their last-mile delivery fleets.
Log9 Mobility is deploying over 1,000 Omega Seiki’s Range+ RapidEV three-wheelers under the MaaS model with third-party logistics (3PL) service providers. The model allows customers to onboard vehicles with no upfront capital cost or needs to own the vehicle.
Akshay Singhal, Founder & CEO, Log9 said, “Log9 is continuously working on integrating its battery technology with Electric Vehicle OEMs for different form factors including e2-wheelers, e3-wheelers, e4-wheelers and e-buses. We are also working with different stakeholders to build a robust EV fast-charging infrastructure in the Indian market. Our technology solution addresses a lot of key challenges such as battery life, quick charging and vehicle safety. We are delighted to partner with cKers Finance to enable deployment of Log9 battery-based vehicles in India."
